Saudi Arabia reports more non-oil exports, large amount of trade with China
The kingdom is trying to reduce its dependence on oil.
Saudi Arabia has reported an increase in non-oil exports for the end of 2021.
The Saudi General Authority for Statistics said today that non-oil exports in November of 2021 totaled 26 billion Saudi Arabian riyals ($6.9 billion), up from 20.6 billion riyals ($5.5 billion) in November 2020. This constituted an increase of 26.1%. Non-oil exports also increased 9% from October to November 2021, the authority said in a press release.
The General Authority for Statistics also reported that China was the top recipient of Saudi exports in November of 2021, accounting for 17.2% of Saudi exports that month. Exports to China were valued at 18.5 billion riyals ($4.9 billion). China was followed by India, which received 11.6% of the exports, and Japan, which received 9.6%. Other countries in the top 10 were South Korea, the United States, the United Arab Emirates, Egypt, Singapore, Bahrain and Taiwan.
Chemical and related products made up 34% of non-oil exports. Plastic and rubber were 31.6%, according to the authority.
